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I've been on the road a great deal during the past few
months and that's provided me with plenty of time to read a
lot of books. Here are a few of my favorites that I think
you might find useful in your business development efforts.
Sally Schmidt's
Business Development for Lawyers:
Strategies for Getting and Keeping Clients
Written specifically for lawyers, Schmidt's book addresses
many ways to develop business including writing, speaking,
networking, involvement in professional organizations,
responding to RFPs, seeking referrals and cross-selling.
The variety Schmidt offers in no way means the book is a
generic compilation of marketing tactics; rather, it is
appropriately discriminating about the relative efficacy of
various tactics:
"Writing may be the marketing activity least likely to
produce business per se, but can still be a valuable piece
of your overall marketing effort."
"Because your time is so limited, you should be very clear
about the type of prospect on which you want to focus your
efforts."
And it is realistic:
"Most clients will not be inclined to change counsel without
a compelling reason to do so."
"If you are having trouble developing business, it usually
has nothing to do with your ability to 'close'; it is
related to the fact you haven't identified or met the
prospective client's needs."
As any good marketing book should, it encourages "client-
focus" and emphasizes developing strong personal
relationships. It highlights the importance of preparation
and follow-up in all situations--from attendance at a
conference to lunch with a client.
Worth reading cover to cover (if you have the time and
inclination) or having on your bookshelf as a reference tool
to consult when you are engaged in a specific marketing
activity.
Tom Rath's
Vital Friends
Rath believes that the quality of the relationships you have
with people you work with dramatically affects your
satisfaction and productivity at work. It may sound like
fluff, but it isn't. The book, produced by the Gallup
Organization, is supported by extensive research.
According to the book, people who have a "best friend" at
work are seven times more likely to be engaged in their
jobs. They get more done in less time. They also have more
engaged customers and are more likely to innovate and share
new ideas.
What the book has to say about friendships in the workplace
is equally applicable to relationships with clients,
potential clients and referral sources. After all, people
like to do business with people they like.
According to Rath, friendships (for our purposes, you can
substitute the word "relationships") fall into one of eight
categories:
- Builders (they motivate you)
- Champions (they sing your praises)
- Collaborators (they have similar interests, passions)
- Companions (they are always there for you)
- Connectors (they introduce you to others)
- Energizers (they always give you a boost)
- Mind openers (they expand your horizons)
- Navigators (they help you make decisions)
Which of these roles do you play in your client's life?
The book makes specific suggestions for strengthening
relationships based on the role you fill in the other
person's life. It is worth considering how using these
suggestions will enhance your relationships with clients and
referral sources.
The book provides an online assessment to help you
categorize which of these roles specific individuals play in
your life. I urge you to take the assessment focusing on key
clients or referral sources.
Then, do something today to cultivate your relationship with
one of your clients. By bolstering these relationships, you
may see your business development results take off.
Michael Port's
Book Yourself Solid
This book provides practical advice about the seven
strategies that service professionals (yes--that includes
lawyers) can use to grow their businesses. The strategies
are networking, direct outreach, referrals, website
presence, speaking, writing and keeping in touch. Port
advises selecting strategies that draw on your strengths and
not overwhelming yourself by trying to use all the
strategies at once. Sage advice!
While the book may be a bit "new agey" for some, its central
themes of identifying your ideal clients, discovering their
needs and selling to those needs are solid advice for even
the most conservative lawyer. The exercises throughout the
book will help you identify effective, comfortable ways to
promote yourself.
Not exactly a business development book but well worth your
time if you are concerned about promoting and retaining
women lawyers at the partnership level is:
Lauren Stiller Rikleen's
Ending the Gauntlet:
Removing Barriers to Women's Success in the Law
Unlike many other authors who address the issue of women's
slow progress in law firms, Rikleen focuses on the structure
of the firms themselves as the real culprit in women's
exodus from law firms and their failure to join the
partnership ranks.
In her meticulously researched book, Rikleen points to
institutional impediments in recruitment, retention and
advancement of women that include the lack of full-time
(and, in many cases, real) management of the firm, the
misguided management selection process, incessant and
increasing billable hour pressure, and "up or out" promotion
policies.
Among the changes suggested are:
- Full-time firm management
- Practice group management selected for management skills
not rainmaking skills
- Compensation systems designed to reward a variety of
contributions
- More flexible working arrangements
- A more horizontal organizational structure
I would have liked Rikleen to have placed more emphasis on
the need for women to build their own books of business to
control their futures in their law firms; nevertheless, this
book is definitely worth your time.
What have you enjoyed reading recently? I will be glad to
share your favorites in next month's newsletter.
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